Business
Credit Acceptance Again Named One of the 100 Best Companies to Work For by Fortune
Southfield, Michigan, April 06, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”,
About this update from Credit Acceptance Corporation
[{"type":"text","content":"Southfield, Michigan, April 06, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has again been named one of the 100 Best Companies to Work For® by Fortune. The Company was ranked 34th, the ninth time it has been recognized. This ranking is 15 spots higher than last year, and our second-highest ranking ever. Its presence on the list demonstrates the longstanding strength of its culture, which emphasizes an open, fair, respectful workplace where team members with diverse backgrounds thrive. “Credit Acceptance’s inclusion on this list is a direct result of our core values of PRIDE: Positive, Respectful, Insightful, Direct, and Earnest,” said Ken Booth, Chief Executive Officer. “These values are ingrained into our hiring processes, workplace, communications, and performance management, creating an environment where team members at all levels feel heard and empowered.” The benefits of Credit Acceptance’s PRIDE values are clear in the diversity and long tenure of its team members. More than half of team members are women (60%) and minorities (52%). Additionally, the Company’s 268 leaders—which include the executive team, senior leadership team, and mid-level team—have worked at Credit Acceptance for an average of 17 years, 15 years, and 9 years, respectively. Credit Acceptance’s values serve as the foundation for its organizational health. For example, the Company adopted a remote-first strategy through the COVID-19 pandemic and global economic contractions. In order to best meet team members’ needs during this time of change, leadership launched a survey and held 28 focus groups to learn how they could foster company culture. As a result, the Company opened six regional hubs where team members gather to make in-person connections with colleagues. These efforts have increased team member satisfaction and allowed the Company to tap into a national talent pool. Credit Acceptance also ensures team members are positioned to deliver their best work by investing time and resources for leadership development, coaching, and training. Development, coupled with setting clear expectations, managing performance, and maintaining effective incentive compensation plans, helps Credit Acceptance show its team members every day how they are valued. Similarly...